Artson Engineering soars on winning Rs 1.26 bn Guwahati Airport contract

12 Jun 2024 CW Team

Artson Engineering's stock was locked at a 5% upper circuit, reaching Rs 184.60, following the company's announcement that it had secured a contract valued at Rs 1.26 billion from Guwahati International Airport. The contract entails the engineering and construction of an ATF Fuel Farm and Hydrant System at Guwahati International Airport.

Artson Engineering operates as a design, engineering, procurement, and construction company within the oil, gas, and hydrocarbon processing industry. It specializes in tankages, piping, and other mechanical packages, and it also undertakes structural fabrication works. The company operates two manufacturing facilities located in Nashik and Nagpur.

In Q4 FY24, the company reported a consolidated net profit of Rs 10.31 million, contrasting with the net loss of Rs 90.96 million reported in the corresponding quarter of the previous year. However, revenue from operations declined by 15.12% year-on-year, falling to Rs 240.87 million in Q4 FY24 from Rs 290.30 million in Q4 FY23.

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